CSI 300 posts its largest weekly gain since 2008 following stimulus measures, as trading resumes on the Shanghai Stock Exchange after delays.
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Chinese stocks have their largest rally since 2008 due to Beijing committing to jolt the economy. This boost has also seen an increase in American stocks as well. The NASDAQ composite tech stock index rose by 1% to a 2 month high due to 20 of the largest Chinese companies on the NYSE and Nasdaq gaining momentum from this news.
The Chinese government is willing to deploy hundreds of billions of dollars worth of economic stimulus which would inject capital into state-run banks as well as lowering interest rates by the largest amount ever in history. This will be a large shift seen in the Chinese economy as well as by the Chinese government as they inject capital into the market to support growth of the economy. Investors will keep their eye as the markets continue to inch higher to all time highs.
